Lots of glum faces as a result of the recent recommendations from the Independent Commission on Equitable Life Payments by the UK Government. Not only will Equitable’s pension holders receive little more than 20% of their pension pots, but the proposed settlement in essence takes away the very raison d’etre for parent Lloyds Banking Group to outsource Equitable’s pensions admin to HCL (see HCL finds it’s an Equitable Life). The change leaves HCL as Equitable’s preferred IT partner – and in search of a new marquee client for its Life & Pensions BPO business. Who said life is equitable?
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Not such an Equitable Life for HCL
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